Insuring Your Holiday Home in Spain

‘Should I insure my holiday home in Spain?’ That’s probably the most asked question among foreign home owners who are not living permanently in the country. This article deals with the benefits of insuring your apartment, house, cortijo, casa rural, beachside property or other real estate and what policy covers you should take into account when asking for a quote.

Holiday Home in Costa Brava, Spain

Holiday Home in Costa Brava, Spain

Holiday Homes in Spain Trend

Owning a holiday home in Spain is trendy. According to Spanish newspaper El País, Comunidad Valenciana, Canary and Balearic Islands, Murcia, Cataluña and Andalucia are some of the destinations that attract more second home foreign buyers. In some of these Spanish regions expats who bought a second home in 2019 amount to over 30% of all home purchases. British with 14% of all foreign home purchases in Spain, Swedes (8.9%), Frenchmen and Germans with 7% each top the buyers’ list.

Next thing after buying your home in Spain is getting the right holiday home insurance policy to cover your needs whether you are renting it out to a third party or living temporarily in it. Having peace of mind as a landlord or during the months you spend back at your home country cannot be understated.

As an expert Spanish insurance broker in the field of insurances for expats we at Cogesa Expats can help you efforlessly get the right holiday home insurance for your property.

Standard Home Insurance, Enough?

Many standard home insurances will not be enough for a second home or a holiday home because they usually do not cover renting out or damages when the villa, chalet or apartment is left empty for a long period. This is considered too risky by insurance companies and cover needs to be provided by a more specific holiday home insurance.

However your property will be exposed to the same risks as a main home: natural disasters, robbery and burglary, etc. By taking out a holiday home insurance you cover all of these eventualities at once.

Basic Covers for a Holiday Home Insurance

If you own a second home in Spain you’ll need a holiday home insurance policy covering the building. Covering the contents is not mandatory but if you are not living permanently there it’s a good way to avoid unexpected calls.

Some basic covers that should be included in your policy:

  • public liability covering the death or injure of you or someone else in your property
  • longer unoccupancy meaning your home will be insured when occupied, unoccupied or let out

Extra covers that could be interesting:

  • loss of income covering periods when you cannot rent out the property because of it being damaged
  • accidental damage covering damages to
  • travel covering a last-minute travel to your property in case something that needs to be taken care of has happened.
  • employer insurance covering other people performing tasks and work in your property like gardeners or cleaners.

There are many other options and covers available. Give us a call or contact us here to get your tailored holiday home insurance quote that meet your needs. You can also fill the form below and we will get in touch with you soon.

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